D 8 3-20a Outdoor Gear Corporation manufactured 2,000

the adjusted trial balance columns of the worksheet for desousa company are as follows.

Steps 8 and 9 are usually prepared only at the end of a company’s annual accounting period. Describe the content and purpose of a post-closing trial balance.

  • Identify the sections of a classified balance sheet.
  • 8.The post-closing trial balance contains only balance sheet accounts.
  • 1Purchased used truck for $12,000,…
  • D) The Adjustments columns.
  • In E4-2, The adjusted trial balance columns of the worksheet for DeSousa Company are as follows.
  • See the answer the adjusted trial balance columns of the worksheet for desousa company are as follows.

BERE COMPANY Trial Balance August 31, 2014 Before Adjustment After Adjustment Dr. Cr. So, in the worksheet, the balance https://xero-accounting.net/ in retained earnings can be reported as $8,641 by removing the individual figure of net income and dividends.

Worksheet data for DeSousa Company are presented in E4-2. In E4-2, The adjusted trial balance… 1 answer below »

(list items that increase retained earnings first.). This problem has been solved! The adjusted trial balance columns of the worksheet for bridgeport company are as follows.

the adjusted trial balance columns of the worksheet for desousa company are as follows.

Income statement accounts are posted to income summary with the net income or loss closed to retained earnings as follows. Current liabilities are obligations that are reasonably expected to be paid from existing current assets or through the creation of other current liabilities. Current assets exceed current liabilities by only $340 ($37,240 – $36,900). However, approximately 50% of current assets are in the form of cash. The company’s liquidity appears to be reasonably good, but some caution is needed. 3.The amount shown in the adjusted trial balance column for an account equals the account balance in the ledger after adjusting entries have been journalized and posted.

Balance Sheet

The chart of accounts is a list of all the accounts used by a company and includes an identification number assigned to each account. Exercise Cash versus accrual accounting (LO2-9) Stanley and Jones Lawn Service Company (S&J) maintains… If a user or application submits more than 10 requests per second, further requests from the IP address may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website. Sorry, preview is currently unavailable. You can download the paper by clicking the button above.

C) The Balance Sheet columns. D) The Adjustments columns. The T-accounts below summarize the the adjusted trial balance columns of the worksheet for desousa company are as follows. ledger of Wheeling Gardening Company, Inc. at the end of the first month of operations.

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Suppose the comparative balance sheets of Skysong, Inc. are presented here. Accounts Receivable—$25,000 ($34,000 – $9,000). Supplies—$2,500 ($7,000 – $4,500).

the adjusted trial balance columns of the worksheet for desousa company are as follows.

As a result,     Coca-Cola has less debt relative to its total assets than PepsiCo. It therefore appears that Coca-Cola is less likely to default on a debt obligation. The amount shown in the adjusted trial balance column for an account equals the account balance in the ledger after adjusting entries have been journalized and posted. 4B Complete worksheet; prepare classified balancesheet, entries, and post-closing trial balance. 4 A Complete worksheet; prepare classified balancesheet, entries, and post-closing trial balance. The following items were taken from the financial statements of J. The adjusted trial balance columns of the worksheet for Sunland Company are as follows.

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PepsiCo’s current assets were 4% less than its current liabilities, while Coca-Cola’s current assets were 5% greater than its current liabilities. From this information, it appears that Coca-Cola is in a better liquidity position than PepsiCo. Coca-Cola’s equity represents a significantly larger percentage of total  $31,921  $20,899 assets 39.9%  $79,974 than PepsiCo’s 28.7%  $72,882 .

Noah Bahr Company discovered the following errors made in January 2019. A payment of Salaries and Wages Expense of $700 was debited to Equipment and credited to Cash, both for… Find answers to questions asked by students like you. After you have completed the requirements of E4-2, consider these additional questions.

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